October 27, 2008

        

Ireland's beef farming group calls for cooperation to ensure long-term supply

           

 

The National Farmers Union in Ireland has called the beef sector to work together in improving producer confidence and ensure long-term supplies are not affected by higher costs and recent price falls.

 

The average GB R4L steer price slipped again last week to 281.2p/kg deadweight from 283.7p/kg/dw last week. Although this was relatively good, compared with the 216p/kg/dw last year, NFU livestock board chairman Alistair Mackintosh said processors had to realise that beef producers had not seen extra returns because of higher costs, particularly feed, fuel and fertiliser.

 

He said indications point to a global shortage of beef which is expected to firm prices in the long term. However, in recent weeks, Macintosh said there has been a seasonal oversupply of cattle which has led to downward price pressure. As producers, Macintosh believed they need to carefully consider how and when we market our stock as continued short-term oversupply will place even more pressure on the existing price.

 

But he said it was also "imperative" that processors provided the industry with the right signals to invest and recognised that negative prices could hit long-term supply.

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